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The Federation of German Industries is calling for a quick agreement on a binding EU climate target for 2030. "Our companies demand clarity and a reliable framework for making investment decisions," said Deputy BDI Managing Director Holger Lösch before an online meeting of the EU Environment Minister on Thursday.

The EU states are currently negotiating with the European Parliament about the planned climate law with a target for 2030.

An EU summit had pleaded for a reduction in greenhouse gases by at least 55 percent compared to 1990.

However, the EU Parliament wants minus 60 percent and a more stringent calculation method.

"The time of overbidding competition for climate targets is over," said industry representative Lösch.

Climate protection needs economic growth and business models, and industry is part of the solution.

In his opinion, a 60 percent target would jeopardize the international competitiveness of domestic companies in the coming years.

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Lösch urged “extreme caution” with the planned CO2 compensation mechanism for imported goods that are not produced as climate-friendly as in Europe.

Such mechanisms are "prone to abuse and risk new trade conflicts".

The industry association describes its ideas on the so-called Green Deal for a more climate-friendly Europe in a position paper.

Central points are the conversion of climate targets into business models and the preservation of competitiveness through international cooperation.

For example, a “Transatlantic Climate Pact” with the USA is being advertised.

In addition, the BDI demands more impetus for the renovation of buildings and tax advantages for fuels with little carbon dioxide.